Much of Iran’s condensate sales have been shipped across the Gulf to Dubai.

“(Between September 22 and October 21) $1.067 billion worth of gas condensates of South Pars were exported out of the country through the Pars Ports Complex,” said Ahmad Pourheydar, head of customs in Iran’s Pars Special Zone, according to Iran’s state news agency Irna.

Western countries have sanctioned Iran’s energy and banking sectors[5] as part of an effort to starve Tehran of revenues for its disputed nuclear programme. In the summer the US tightened controls on financial transactions for importing Iranian condensate. But Dubai is still buying the oil while US officials encourage the Dubai-government-owned Emirates National Oil Company (Enoc) to find another source of supply.